126.201 – LIQUIDATION ORDER; APPOINTMENT OF LIQUIDATING
Texas Finance Code § 126.201
Summary
This law allows the commissioner to appoint a liquidating agent for a credit union after a conservatorship order. It applies when the credit union's board requests liquidation, consents to it, or if the commissioner determines that liquidation is necessary.
Commissioner can appoint a liquidating agent after conservatorship.
Liquidation can occur at the board's request or consent.
Commissioner must find liquidation necessary for the credit union.
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In simple terms: Learn about Texas's LIQUIDATION ORDER; APPOINTMENT OF LIQUIDATING law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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